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Calloway’s Nursery to Close San Antonio Stores

BY CSA STAFF

Fort Worth, Texas Lawn and garden-products retailer Calloway’s Nursery Inc. said Wednesday it will close its four San Antonio-area stores and leave the local market at the end of May.

“We are redeploying our assets at this time,” Jim Estill, president and COO for Calloway’s, said in a statement. “We continually seek ways to allocate our resources to best serve customers, while sustaining a healthy and prosperous business.”

Deep discounts on select merchandise are currently under way.

The company expects to do business until the merchandise is cleared out of each store through the month of May.

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JCPenney reports weak March sales

BY CSA STAFF

PLANO, Texas JCPenney reported that comparable-store sales decreased 12.3% for the five weeks ended April 5, consistent with the company’s most recent guidance. This compares with an 11% increase in last year’s period. Total sales in March decreased 10.3%.

According to the company, sales declines during the month were broad-based across most merchandise categories and areas of the country, including soft sales over the Easter period. Customers are responding positively to new American Living product across all categories in which it is available, and Sephora inside JCPenney continues to experience strong sales results.

Managements guidance for the four-week period ending May 3, is for a mid- to high-single digit decrease in comparable-store sales, compared to a 3.4% decrease in last years April period. This guidance reflects the expectation for a continuation of recent trends and the benefit from an extra day of selling in this years April period.

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Kohl’s March comps tumble

BY CSA STAFF

MENOMONEE FALLS, Wis. Kohl’s reported today that sales for the five-week period ended April 5 decreased 7.9% over the five-week period ended April 7. On a comparable-store basis, sales decreased 15.5%. For the nine weeks ended April 5, total sales decreased 3.2% and comparable-store sales decreased 11.1%.

Larry Montgomery, Kohls chairman and ceo, commented, Sales in weather-sensitive businesses such as shorts, tanks, polos and sandals experienced significant declines on a comparable store basis, contributing to our sales shortfall. We have been conservative in our inventory planning and expense management and will continue to do so until the environment improves. 

The company now expects its first quarter comparable sales to be in the negative high-single digit range and its earnings to be 40 cents to 42 cents per diluted share.

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